. >> materials down 20%, energy down 16%. >> correct. again this quarter the sectors that rely on commodities prices are seeing the biggest hit. materials as you said down 20%. certainly be interesting this afternoon to see where alcoa falls. currently they are expected to be down 99% from the year ago quarter. of course, within materials we are seeing metals and mining looking to be down 40%. >> what does this mean for me sitting at home? if you know it, the analysts forecast it, that must be in the market and yet the s&p has rallied over the last few months. when i see a materials report results down 20%, will the stock not fall? >> you're right, there's a disparity wean the markets and what analysts are seeing. we are seeing earnings at a three-year low. this negative 1.2% is the lowest we have seen since third quarter 2009. i think investors have been focusing the last few weeks on the comments of the fed, the ecb, they have not really turned their droex earnings at this point. once we see companies missing estimates and revenue targ